The European Central Bank is unlikely to change its policy in the upcoming meeting, but it could hint about the next steps. The removal of the “use all instruments” phrase helped push the euro higher until Draghi clarified it was not that important. Will the fall in inflation trigger some dovishness and a hint for more QE? Or will the optimism originating from France help enlighten the mood? The bias is euro-positive, but Draghi has ruined it in the past.
Video preview of the ECB meeting on April 27th 2017:
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